that could be a big problem. we are live outside the white house right now. i think i know the answer, but i've got to ask the question. how are they doing? >> reporter: first good news, they were all scheduled to start talking at the white house about half an hour ago. as you well know, the devil is in an agreement that appears to be a ways away. with the deadline fast approaching for congress to reach a deal on extending the nation's debt limit, president obama says he remains confident that a deal can be done on time. >> we can meet our fiscal challenge. >> reporter: a deal, that would in fact, extend the debt limit to save roughly $4 trillion over the next decade. >> i know we can do this. >> reporter: but judging from the sound bytes coming from both sides of the aisle, the president's optimism doesn't seem to be shared by many, if any, political leaders. >> some of this will come forward on sunday evening. >> reporter: house minority leader nancy pelosi says massive cuts in medicare and social security are simply off the table. >> we are not going to re